Employers Will See Reduction in Worker's Comp Assessments
Bowling Green, KY – The commissioner of the Department of Worker's Claims in Kentucky, Dwight Lovan, says employers in the bluegrass state will save an estimated three million dollars next year, as a result of the change. The special fund rate for all employers will be reduced from 6.5 percent to 6.28 percent. This marks the first reduction in the rate since 2006. Furthermore, coal company employers will no longer pay an additional five-tenths of a percent, so the coal industry's assessment will be equal to that of all other Kentucky industrial groups. State officials say actuarial projections indicate that sufficient funds will be available with the new assessment levels, which take effect at the start of the new calendar year.